Economy

Reliance Home Finance debuts at Rs.107 on NSE

Reliance Home Finance debuts at Rs.107 on NSE”

Mumbai: Reliance Home Finance, the demerged entity of Reliance Capital Ltd, listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Friday. The disbursements were Rs 2,655 crore during the period under review and the assets under management as on June 30, 2017 stood at Rs 13,022 crore. The stock made its stock market debut at Rs104 on the BSE and at Rs102.7 on the NSE. The company's shares opened at Rs 102.10 on trading debut, rising as much as 5 per cent to Rs 107.20.

Meanwhile, the S&P BSE Sensex was down 261.77 points, or 0.81% at 32,108.27.

Reliance Capital owns 51 percent stake in Reliance Home Finance. Reliance Capital shareholders have already received one share of Reliance Home Finance for every share held in Reliance Capital as on 6 September 2017.

The listing move is expected to unlock value for the existing shareholders of the firm, Reliance Capital said in a statement. Home loans and affordable housing loans contributed 35 percent and 19 percent of its portfolio, respectively, while riskier segments like loan against property and construction loans accounted for 22 percent and 24 percent.

Reliance Capital, which is present across insurance, mutual fund and a host of other financial services sectors, said its core businesses have achieved double digit growth in profitability in terms of operating performance during the last fiscal.

Ravindra Sudhalkar, executive director and chief executive, RHFL said that the firm expects the AUM to touch Rs50,000 by 2020. HT Media is contesting the case.



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